Repco Bank — unethical behavior by bank and bank manager

Address:

Chittoor, Andhra Pradesh, 517501

I have house loan in repco bank. When i took the loan it was around 10%. Later when ever there is change in interest rates they increased rates accordingly and no of emi's has been increased due to which i have to pay 16 additional emi's which means additional interest.

When i asked why there is unidirectional increase in interest rates, they give very vague answer saying for that bank they have only unidirectional. When the interest rates fall it is not applicable for that bank.

When i asked the details of interest rate hikes during past 10 years, they say they will not provide and they do not have provide as it will not fall under rti act as per bank manager.

I escalated the issue to grievance cell and further to gm and there is no response.

I really do not understand how this bank is special when compared to other banks where interest rates will move in both directions.

My advise to customers is do not go for this bank. This is one of the worst banks i have ever seen who does not care about the customers.